Title: Tom Cruise’s ‘Mission: Impossible – Dead Reckoning Part One’ Battles Box Office Reckoning
Subtitle: The film faces tough competition and lower-than-expected second weekend earnings
Date: [Current Date]
Tom Cruise, the superstar who reignited the box office with the success of ‘Top Gun: Maverick’, is now confronting a different challenge – surviving the Barbenheimer effect. Paramount Pictures and Skydance’s ‘Mission: Impossible – Dead Reckoning Part One’ experienced a franchise-worst 64 percent drop in its second weekend, earning only $19.5 million at the domestic box office. The film found itself in direct competition with the unexpected cultural phenomena created by ‘Barbie’ and ‘Oppenheimer,’ which collectively propelled the box office to historic heights, with the July 21-23 weekend recording the fourth-biggest revenue of all time.
Despite the setback, ‘Dead Reckoning Part One’ managed to accumulate a domestic total of $118.8 million by the end of its second weekend. Industry insiders are debating whether the film will stabilize and enjoy a long, successful run, just like previous installments in the ‘Mission: Impossible’ series and Cruise’s recent hit ‘Top Gun: Maverick.’ Notably, ‘Dead Reckoning’ has received favorable reviews from critics on Rotten Tomatoes and strong audience exit scores, which keeps executives optimistic about its future performance.
“The story is far from over,” says an executive at a rival studio, suggesting that the film’s fate is still uncertain.
While ‘Mission: Impossible’ films have never opened with record-breaking numbers, expectations were high for ‘Dead Reckoning’ following the massive success of ‘Top Gun: Maverick,’ which earned $160.5 million over the Memorial Day weekend in 2022. Initially projected to open with $90 million in its first five days starting July 12, ‘Dead Reckoning’ exceeded expectations by grossing $78.5 million, setting a franchise-best record, without adjusting for inflation.
As with previous installments, the international market played a significant role in the overall success of ‘Dead Reckoning Part One.’ The film earned an additional $55 million from 72 markets in its second weekend, bringing the foreign total to $252.1 million and the global total to $370.9 million by the end of the second weekend. The film’s performance is particularly strong in Asia, where ‘Barbie’ and ‘Oppenheimer’ did not dominate. ‘Dead Reckoning’ is also pacing well ahead of 2018’s ‘Mission: Impossible – Fallout’ in several markets, including a remarkable debut in Japan with $7.9 million.
However, ‘Dead Reckoning’ faced additional challenges when it lost IMAX and premium large-format (PLF) screens to ‘Oppenheimer’ and ‘Barbie.’ The upcharge for IMAX and PLF tickets significantly impacts a film’s box office performance, and the absence of these screens during ‘Dead Reckoning’s crucial second weekend posed an additional hurdle. Earlier in July, IMAX screens were committed to ‘Indiana Jones and the Dial of Destiny.’
Directed by Christopher McQuarrie, ‘Mission: Impossible – Dead Reckoning Part One’ was a highly anticipated release that faced numerous delays due to the COVID-19 pandemic. With a production budget of nearly $300 million, the film’s release date was rescheduled multiple times, finally landing on mid-July 2022. Amidst the ongoing SAG-AFTRA strike, production on the second part of the film has been halted, adding another layer of uncertainty to the franchise’s future.
Industry observers also noted the unexpected competition from Angel Studios’ faith-based political thriller, ‘Sound of Freedom,’ which premiered on July 4 and is estimated to have beaten ‘Dead Reckoning’ at the domestic box office with $20.1 million over the weekend, bringing its cumulative total to $123.4 million. Comscore will determine the final order once Monday actuals are available, as Paramount and other studios still project ‘Dead Reckoning’ to come out on top.
In late June, Tom Cruise, a staunch advocate for the theatrical experience, passionately encouraged audiences to support multiple movies, including ‘Dial of Destiny,’ ‘Oppenheimer’ by Christopher Nolan, and ‘Barbie’ by Greta Gerwig. However, the unexpected success of the latter two films at the box office has presented an unforeseen challenge for ‘Dead Reckoning Part One.’
The next installment, ‘Mission: Impossible – Dead Reckoning Part Two,’ is scheduled to release on June 28, 2024. Although much of the movie has been shot, production is currently halted due to the ongoing strike.
The story of Tom Cruise’s latest mission at the box office is still unfolding, and only time will reveal if ‘Dead Reckoning Part One’ can overcome its current setback and emerge victorious.